Home Industry News $93MM in Acquisition Financing Provided for Bothell Apartment Purchase

$93MM in Acquisition Financing Provided for Bothell Apartment Purchase

NorthMarq Capital’s Denver office arranges $93 million in acquisition financing for Bridges at Northcreek in Bothell, Washington

David Link, managing director, and Brian Fisher, investment analyst in NorthMarq Capital’s Denver-based regional office, arranged acquisition financing of $93 million for Bridges at Northcreek, a multifamily property located at 20225 Bothell Everett Highway in Bothell, Washington. The property benefits from immediate access to over 500 restaurants and shops, Woodinville wine country, golf courses, parks and more.

Constructed in 1999, the class “A” community consists of 524 units contained in 24 three-story buildings. Amenities include: a resort-style pool, two playgrounds, fitness center and yoga room, a conference room with a full kitchen and covered parking. Washer/dryers are provided in all units.

“The financing was arranged for the borrower, a long-term client of the Denver office, through NorthMarq Capital’s Fannie Mae program,” said Link. “The loan was a 10-year full term interest-only transaction with significant prepay flexibility in the last several years of the loan.”